Match the Terms with the Definitions

question 58

Multiple Choice

Match the terms with the definitions.
-group elected by the stockholders to determine corporate policies and to select corporate officers.

• A)authorized stock
• B)board of directors
• C)bylaws
• D)premium
• E)capital stock subscription
• F)preferred stock
• G)paid-in capital
• H)cumulative preferred stock
• I)dividends
• J)double taxation
• K)outstanding stock
• L)no-par stock

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Definitions:

Closed Economy

An economic system that does not engage in international trade, with no exports or imports, relying solely on domestic production and consumption.

Japan

An island country in East Asia, known for its rich culture, technological advancements, and significant economic power.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity (like producing a good or service) more efficiently than another activity.

Rice and T-shirts

Representative commodities in discussions of global trade and economy, illustrating basic needs (food) and global manufacturing (apparel).